China – a country that has banned cryptocurrency transactions – holds one of the world’s largest crypto fortunes. It turns out that China owns 194,775 Bitcoin and 833,083 Ethereum. This reserve is second only to the US, with 198,109 BTC.
However, China does not openly admit to the accumulated crypto. In fact, a recent report by the South China Morning Post said that North Korea is holding on to so much Bitcoin, that only the US and the UK seem to have more.
Interestingly, according to a 2020 ruling by the Jiangsu Yancheng Intermediate People’s Court, China seized 194,775 BTC, 833,083 ETH, 487 million XRP, 6 billion DOGE, 79,581 BCH, 1.4 million LTC, 27.6 million EOS, 74,167 DASH, and 213,724 USDT.
The Chinese government confiscated an extraordinary crypto haul from the PlusToken scam in 2019, which at current prices is worth a staggering $20.77 billion
China’s crypto reserve mostly comes from the crackdown on PlusToken, which was never sold by the government.
JUST IN: Hong Kong ETF issuer CONFIRMS China is actively preparing a shift into Bitcoin and crypto. pic.twitter.com/LS9r9WDyoG
— Altcoin Daily (@AltcoinDailyio) March 24, 2025
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Key Takeaways
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The Chinese government confiscated an extraordinary crypto haul from the PlusToken scam in 2019, which at current prices is worth a staggering $20.77 billion
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Despite its anti-crypto stance, China has embraced blockchain technology. In October 2019, President Xi Jinping declared blockchain a core technology deserving of research and investment.
The post China’s Crypto Accumulation Trails Only US: Best Crypto To Buy! appeared first on 99Bitcoins.
